Minibar Delivery, a New York-based technology company that provides on-demand access to wine, liquor, beer, has signed a definitive agreement to acquire Booze Carriage, an alcohol delivery platform based in New York City, the US.
As per the terms of agreement, Minibar will acquire Booze Carriage's user base of over 25,000 customers and gain Booze Carriage's corporate business.
The deal will help Minibar's sales grow by over 20% and enhance its beer selection and double its beer distribution capabilities.
The acquisition will also accelerate Minibar's growth by adding 10 new vendor partners. It expects to reduce delivery times by up to 25%.
Minibar co-founder Lara Crystal said: "This is a significant day in the online alcohol delivery space and we couldn't be more excited to welcome Booze Carriage to the Minibar family.
"They've built a strong business with a loyal user base and with this merger we will continue enhancing the Minibar platform while better serving present and future customers."
Booze Carriage founder Rob Matzkin said: "Minibar shares both our customer-first philosophy and our vision for modernizing an industry. They have quickly become the industry leader in New York and beyond, and we are thrilled to be joining them."
A full transition of the Booze Carriage service into the Minibar Delivery network is expected to be completed this week.?
Financial terms of the transaction have not been disclosed.
